The European Bank for Reconstruction and Development (EBRD) has teamed up with Mid Europa Partners to invest $26.8 million in Romania’s fastest-growing supermarket and convenience store chain, Profi Rom Food SRL.
Profi operates more than 500 stores in 272 communities within Romania,
according to a press release on the EBRD website. The EBRD’s financing will allow the chain to expand and reach smaller towns.
Private-equity firm Mid Europa Partners acquired all shares of the store chain from Polish Enterprise Fund VI late last year. The firm is also a long-time partner of the EBRD.
“With our support, Profi will open hundreds of new stores in both big and small localities of Romania, offering customers the opportunity to shop for affordable food in convenient locations while boosting the local economy and creating jobs,” Matteo Patrone, EBRD regional director for Romania and Bulgaria, said in the release. “Extending the outreach will not only benefit customers but also local producers who will have more options to sell their excellent products.”
Daniel Cirstea, CEO of Profi Rom Food, said the supermarket chain retains and gains customers because it offers fresh products.
“The company is in excellent shape and has great potential to grow in the years to come across Romania, including into smaller localities, he company said We are pleased that the EBRD is joining Profi’s shareholder group led by Mid Europa and look forward to leveraging their know-how in developing businesses across the CEE region.”
The EBRD is a one of the top institutional investors in the country.
